Analysts Set BlackSky Technology Inc. (NYSE:BKSY) Price Target at $36.50

BlackSky Technology Inc. (NYSE:BKSY) has earned a consensus recommendation of “Hold” from the five research firms that are presently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $36.50.

A number of equities analysts have issued reports on the stock. Canaccord Genuity Group decreased their price objective on shares of BlackSky Technology from $27.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, February 27th. Wall Street Zen cut shares of BlackSky Technology from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group upgraded shares of BlackSky Technology to a “hold” rating in a research report on Wednesday, June 10th. Weiss Ratings restated a “sell (d-)” rating on shares of BlackSky Technology in a research report on Monday, April 20th. Finally, HC Wainwright restated a “buy” rating and issued a $42.00 price objective on shares of BlackSky Technology in a research report on Friday, February 27th.

BlackSky Technology Price Performance

Shares of NYSE:BKSY opened at $31.16 on Tuesday. The stock has a market cap of $1.16 billion, a PE ratio of -12.22 and a beta of 2.52. The company’s fifty day moving average is $38.30 and its 200 day moving average is $28.06. BlackSky Technology has a 52 week low of $11.12 and a 52 week high of $52.88. The company has a quick ratio of 3.34, a current ratio of 3.46 and a debt-to-equity ratio of 2.39.

BlackSky Technology (NYSE:BKSY) last issued its earnings results on Thursday, May 7th. The company reported ($0.82) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.45). The business had revenue of $20.77 million during the quarter, compared to analysts’ expectations of $27.60 million. BlackSky Technology had a negative return on equity of 74.25% and a negative net margin of 89.07%. Research analysts anticipate that BlackSky Technology will post -1.32 earnings per share for the current year.

Hedge Funds Weigh In On BlackSky Technology

A number of hedge funds have recently modified their holdings of the company. Bank of America Corp DE increased its position in shares of BlackSky Technology by 156.1% in the first quarter. Bank of America Corp DE now owns 412,891 shares of the company’s stock valued at $10,388,000 after acquiring an additional 251,638 shares during the period. The Manufacturers Life Insurance Company purchased a new position in shares of BlackSky Technology in the first quarter valued at about $217,000. Quantinno Capital Management LP purchased a new position in shares of BlackSky Technology in the first quarter valued at about $343,000. Sei Investments Co. increased its position in shares of BlackSky Technology by 125.5% in the first quarter. Sei Investments Co. now owns 65,650 shares of the company’s stock valued at $1,652,000 after acquiring an additional 36,541 shares during the period. Finally, Cetera Investment Advisers increased its position in shares of BlackSky Technology by 27.0% in the first quarter. Cetera Investment Advisers now owns 15,252 shares of the company’s stock valued at $384,000 after acquiring an additional 3,244 shares during the period. Hedge funds and other institutional investors own 27.15% of the company’s stock.

BlackSky Technology Company Profile

BlackSky Technology, Inc operates Earth observation and geospatial intelligence services through a constellation of small satellites and an analytics platform. The company collects and processes high-revisit satellite imagery, enabling near-real-time monitoring of global events and locations. Clients across government, defense and commercial sectors leverage BlackSky’s imagery and data to support decision-making in areas such as supply chain monitoring, humanitarian aid, infrastructure management and security operations.

Founded in 2014 as part of Spaceflight Industries, BlackSky has grown its satellite constellation and analytics capabilities to deliver satellite imagery with high revisit rates and rapid tasking.